Dewdney Trail Property

Location

The road accessible Dewdney Trail Property is located 30 km northeast of Cranbrook, British Columbia and covers more than 10,000 hectares over a 14 km strike length of favourable geology with gold, copper, zinc, lead and/or silver deposit potential.

History

In 1864, placer gold was discovered in Wildhorse Creek and started a gold rush in the Cranbrook area. Anecdotal information suggests at least 1.5 million ounces (46.7 million grams) of gold have been recovered from the creek; however, no corresponding lode gold deposits of any size have been discovered in the rock, suggesting the Wildhorse Creek Area has undeveloped potential for gold deposits. The Dewdney Trail Property is located upstream from placer deposits in Wildhorse Creek and may host the source of the placer gold.

Since 2010, PJX has consolidated 100% ownership of the mineral rights to claims comprising the Dewdney Trail Property.

In December 2010, RIT Minerals Corp. completed a 43-101 Technical Report (the “43-101”) on the Dewdney Trail Property for the PJX. A copy of the Technical Report was filed on SEDAR in 2011 and is available in the Company’s filings on SEDAR (www.sedar.com).

PJX has since compiled historical data and infilled data gaps with prospecting, mapping, geochem soil, silt and rock sampling, geophysics, and targeted trenching and drilling to help identify the most promising areas to host potential gold and base metal (copper, zinc, lead) deposits.

In 2021, PJX optioned the right to acquire a 100% interest in the historical Estella Mine from Imperial Metals over a 5-year period. The Estella Mine closed in the 1960s. The mine produced zinc, lead and silver in concentrate from a vein similar in composition to veins that occur proximal to the Sullivan Mine that is located 24 km west of the Property. The small Estella Mine Property is located within the outer boundary of PJX’s large Dewdney Trail Property.



Exploration Potential

Work by PJX since the start of consolidating the mineral title to the Dewdney Trail Property, has confirmed geological characteristics, such as folding, faulting, alteration, host rocks, and proximity to placer gold creeks that support the potential for Orogenic, Intrusive Related and Sediment Hosted Vein (SHV) type gold deposits.

More than 10 km of favourable geology with potential to host gold mineralization has been identified. One favourable gold bearing quartzite-argillite unit ranges from 75 to over 200 m true width. Gold occurs with quartz veins or quartz stockwork zones and silica, sericite and carbonate alteration in the sedimentary unit. Gold grades in rock grab samples can range from anomalous to over 30 g/t.

Exploration has also identified potential for intrusive related copper and Sullivan type (zinc, lead, silver) base metal deposits.

Multiple large target areas have been identified to date. Two of the most advanced target areas are Lewis Ridge and Tackle Basin.


Lewis Ridge and Tackle Basin Target Areas

Lewis Ridge covers an area approximately 3km x 2km in size.

Tackle Basin covers an area approximately 2km x 2km in size.

The Lewis Ridge area has a multi-element signature of gold, copper, zinc, lead, bismuth, molybdenum, arsenic and silver in soil. (See geology maps with various soil analyses)

Gold is the dominant element in soils in the Tackle Basin area. (see geology maps with various soil analyses)

Both target areas occur within the hinge and/or limb of a large regional anticline fold structure.

Mineralization occurs in sediments similar in age (Proterozoic) and/or type (turbidites, quartzites) to other deposits such as Telfer, Sukoi-log and Sullivan.

Gold and/or copper mineralization can also be associated with felsic intrusives.

Sediments have been intruded by felsic intrusives (alkalic, calc-alkalic) similar in age (Cretaceous to possibly Eocene) to deposits such as Pebble in Alaska or the Butte district in Montana.


Next Steps

Next steps include the assessment of airborne magnetotelluric and magnetic surveys along the 10 km trend to help define drill targets.

  • Placer Gold Tackle Basin Area

  • Typical vein morphology and spacing within quartzite. Bedding is horizontal in photograph, most veins are perpendicular to bedding. Note the close spacing (Cdn penny for scale) of veins, and vein widths from millimeter to centimetre scales.

  • Gold Bearing Rock Comparison

  • View southeast at quartzite forming the headwall of Lewis Creek. Intense sericite-quartz-pyrite-Fe-carbonate alteration imparts orange weathering color. Rock and soil samples are anomalous in gold.

  • Anticline Fold Dewdney Trail

  • Dewdney Trail Property map with Estella Crown Grants and road/trail access